a governmental or personal financial crisis that is brought on by economic factors or policies: High housing costs have pushed many families over the fiscal cliff.Some municipalities are on the edge of a fiscal cliff after years of overspending.
(specifically) a financial crisis that threatens to disrupt the economy or personal finances and is brought on by steep governmental spending cuts and tax increases: Congressional legislation to avert the fiscal cliff.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use fiscal cliff in a sentence
While the bill will avoid a pending calamity, the Senate will have to address this fiscal cliff again come December — a month when lawmakers also face several other important deadlines, including funding the government.
He rightly references the looming fiscal cliffs that Social Security and Medicare face as their trust funds approach insolvency.Joe Manchin delivers a dagger to the heart of the progressive cause | Henry Olsen | September 30, 2021 | Washington Post
The pandemic and corresponding economic crisis have left many Americans unemployed and many state and local governments concerned about a potential fiscal cliff.States Must Help Schools Tackle the Climate Crisis—Beyond What's On the Curriculum | Jack Markell | April 15, 2021 | Time
Without it, American families are facing a historic fiscal cliff.Here’s what could happen to your portfolio in the case of a ‘no deal’ on fiscal stimulus | Bernhard Warner | October 21, 2020 | Fortune
Oh, and as a result of the fiscal cliff negotiations in late 2012, tax rates on some people actually rose.
They did once in the Obama era on a big thing—the fiscal cliff deal.
What followed, instead, was a year of inaction, culminating in a government shutdown and a stand-off over the fiscal cliff.The Deal Has Passed, But Don’t Hold Your Breath for Bipartisanship | Jamelle Bouie | December 13, 2013 | THE DAILY BEAST
Welcome to Groundhog Day, with the hefty rodents on Capitol Hill scurrying toward another fiscal cliff.Debt Ceiling Crisis Is Like a Toxic Groundhog Day on Capitol Hill | John Avlon | October 16, 2013 | THE DAILY BEAST
With the fiscal cliff and a potential shutdown looming late last year, a clip of the “Shutdown” episode circulated online.‘The West Wing’ Government Shutdown Episode Is Frighteningly Familiar | Marlow Stern | October 2, 2013 | THE DAILY BEAST
British Dictionary definitions for fiscal cliff
informal a situation in which sudden changes in government expenditure and taxation have a profound effect on a country's economy
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012